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Michelle Ueding: Plan Sponsors Must Retain Hardship Documentation

Kutak Rock attorney Michelle Ueding published the article "Plan Sponsors Still Responsible for Retaining Documentation of Hardship Distributions" in the Summer 2017 issue of Plan Consultant.

In the article Ueding explains that recent IRS guidelines remove some of the controversy and uncertainty about what to collect from plan participants who apply for hardship withdrawals. The guidance also provides a new compliance method for online hardship applications. However, she warns plan sponsors that they cannot assume the IRS document retention requirements are being met by the plan's recordkeeper.

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